VA Loans
VA loans are backed by the Department of Veterans Affairs and offer some of the best terms available — including no down payment and no monthly mortgage insurance — for eligible veterans, service members, and surviving spouses.
Best for: Eligible veterans, active-duty service members, National Guard/Reserve, and qualifying surviving spouses.
Key features
- $0 down payment for eligible borrowers
- No monthly private mortgage insurance
- Competitive interest rates
- Limits on closing costs you can be charged
Typical requirements
- A valid Certificate of Eligibility (COE)
- Sufficient income and acceptable credit (lender-set minimums vary)
- Property must be your primary residence
- A one-time VA funding fee applies (waived for some disabled veterans)
VA Loans FAQ
Do VA loans really require no down payment?
Yes — eligible borrowers can finance 100% of the purchase price with no down payment, as long as the loan is within the lender's limits and the borrower qualifies.
What is the VA funding fee?
A one-time fee that helps sustain the program. It varies by down payment and whether it's your first use, and it can be rolled into the loan. Some disabled veterans are exempt.
Can I reuse my VA loan benefit?
Yes. Your entitlement can be restored after you sell and pay off a prior VA loan, and in some cases you can have more than one at a time.
See any unfamiliar terms? Check the mortgage glossary.
VA Loans by state
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